AGA.L Regulatory News (AGA)

15 Aug 2005 09:30

AGA Foodservice Group PLC15 August 2005 15th August 2005FOR IMMEDIATE RELEASE DIVERTIMENTI JOINS AGA FOODSERVICE Divertimenti, the London-based high end kitchenware business, has been acquiredby the Aga Foodservice Group for an acquisition cost of up to £1.4 million incash. Divertimenti has a comprehensive range of over 5,000 cookware andkitchenware items and two shops: Marylebone High Street, which also has acookery and wine school and new premises on the Brompton Road. It also has mailorder, wedding registry and online operations at www.divertimenti.co.uk. In theyear to June 2005, it made a small loss on turnover of £2.5 million. Over recent years the Group has built a strong, Aga-branded cookware business.This acquisition will ensure that Rangemaster and La Cornue are part of astrategy to develop a comparable cookware business. In addition to itsestablished cookware ranges, Divertimenti will now carry cookware ranges from LaCornue, Falcon and Rangemaster. Divertimenti will run as part of the Group'sRangemaster operations. "We aim to build a strong cookware business for our Rangemaster/La Cornuebusiness as well as growing our successful Aga Cookware business. Divertimentiis a tremendous platform on which to grow a multi channel cookware businessbeing, itself, such a widely known and respected brand and business." WilliamMcGrath, Chief Executive, Aga Foodservice Group plc. "Our team is proud that Divertimenti has become the store for quality and tastein cookware in London. We now look forward to being part of the Aga Group andhaving their brands, products and resources available so we can realise thepotential of Divertimenti." Michael Schneideman, Director, Divertimenti. (-ENDS-) Enquiries: William McGrath, Chief Executive, Aga Foodservice Group plc - 0121 711 6015Jonathan Glass/Simon Sporborg, Brunswick - 020 7404 5959 This information is provided by RNS The company news service from the London Stock Exchange